Specialty chemicals maker Aether Industries Ltd. launched its Rs 808-crore initial public offering on Tuesday amid a spike in global volatility on account of the Russia-Ukraine crisis, resurgence of Covid-19 cases in China and inflation pressures.
The Surat-based company has set a price band of Rs 610-642 apiece for its IPO, which consists of a fresh issue worth Rs 627 crore and an offer for sale of 28.20 lakh shares by the promoter group and other selling shareholders.
That will fetch investors Rs 181 crore at the upper end of the price band.
The company plans to evenly distribute the proceeds from the fresh issue for capital expenditure for a greenfield project, pre-payment or repayment of borrowings and working capital requirements.
Subscription Status: Day 1
The IPO was subscribed 0.33 times or 33% as of 5 p.m. on May 24.
Institutional investors: 0.36 times.
Non-institutional investors: 0.05 times.
Retail investors: 0.42 times.
Employees: 0.54 times.
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